Curis

Curis, Inc. (NASDAQ:CRIS)

Shares of Curis, Inc. (NASDAQ:CRIS) are down 17.5% after the biotechnology company reported a (-$15.5) million, or (-$0.11) per share, loss on $2.4 million in revenue for Q3 2017. The company’s results were below analyst expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of (-$0.09) cents per share. For the same period last year, Curis reported a net loss of (-$28.3) million, or (-$0.21) per share.

Curis, Inc. (NASDAQ:CRIS) is a biotechnology company that develops and commercializes drug candidates for the treatment of human cancers, including CUDC-907, which is being investigated in clinical studies in patients with lymphomas and solid tumors. Curis also collaborates with Aurigene in the areas of immuno-oncology and precision oncology. Curis is also in collaboration with biotechnology giant Genentech, a member of the Roche Group, under which Genentech and Roche are commercializing Erivedge® for the treatment of advanced basal cell carcinoma.

CRIS Stock Performance

Shares of Curis, Inc. (NASDAQ:CRIS) hit new 52-week lows, $1.23, after the earnings announcement was released. The 52-week high was established back in November of 2016. However, shares have taken a beating since then and lost over 40% of their value. Year-to-date, CRIS stock performs even worse – down over 50%.

All four investments firms that follow Curis, Inc. (NASDAQ:CRIS) rate CRIS shares as a “Strong Buy” and have a consensus price target of $5.50. This is noteworthy as sales have been in decline for the past five years. In 2012, the company posted sales of $17 million. That figure shrank every year and for 2016 sales were posted at just $7.5 million. On top of the poor sales performance, CRIS shares have had negative earnings for the past five years with the two largest losses coming in 2015 (-$0.48) and 2016 (-$0.46).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Curis, Inc. (NASDAQ:CRIS)

Curis, Inc. (NASDAQ:CRIS) shares fell 8% after the biotechnology company announced the pricing of an underwritten public offering of 20 million shares of common stock. The company has also granted underwriters 30-day option to purchase an additional 3 million shares. The offering is set to close on September 18, 2017 subject to customary closing conditions.

Stock Performance

Curis, Inc. (NASDAQ:CRIS) stock has been under selling pressure since the start of the month. The stock is currently trading in a range after failing to close above the $2.25 mark on three attempts. It now faces immediate support at the $1.60 level, below which it could drop to this year’s lows of $1.47 a share.

One month CRIS stock price chart

The underwritten stock pricing appears to have spooked investors given that in addition to increasing the company’s debt, it will lead to further dilution of the stock. Part of the proceeds from the offering are to be used to fund potential acquisition of new businesses as well as technologies and products that have the potential to expand the business.

Curis, Inc. (NASDAQ:CRIS) will also use the funds to finance ongoing development of CUDC-907, a small molecule inhibitor of histone deacetylase as well as CA-170, CA-327, and CA-4948 in collaboration with Aurigene Discovery Technologies.

Curis Pipeline

Aurigene Discovery Technologies has announced plans to carry out Phase 2 trial of CA-170, an oral small molecule designed to target the immune checkpoints PDL and Vista. The company has already carried out Phase 1 trials in the U.S, South Korea, and Spain.

The company did not report any dose limiting toxicities on the Phase 1 trial of CA-170 as it also demonstrated good oral bioavailability. Evidence of immune modulation was observed in patients’ blood and tumor biopsy samples.

According to Aurigene CEO, CSN Murthy, the results affirm CA-170 mechanism action as an oral checkpoint inhibitor. Together with Curis, Inc. (NASDAQ:CRIS), the company has already designed a phase 2 trial that will target selected populations of patients in major centers in India.

“Based on these initial clinical results, we are excited for the opportunity to expand testing of CA-170, possibly in earlier lines of treatment and in a greater number of immunotherapy treatment-naïve cancer patients,” commented Mr. Murthy.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CRIS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Curis, Inc. (NASDAQ:CRIS)

Curis, Inc. (NASDAQ:CRIS) upward momentum, that began late last year, may be back in play as the stock registered an impressive run in recent weeks. The stock is threatening to break out of the current trading range between $1.73 and $1.91 a share. Fuelling the bullish momentum on the stock is the management team’s confirmation that new drugs are on the way that should steer the company to profitability.

Robust Pipeline

The Biotechnology firm has made a name for itself as a developer of drugs that target various types of cancers. Until now, Curis, Inc. (NASDAQ:CRIS) has devoted a good amount of resources on research and development – efforts that could soon start to pay off.

Curis, Inc. (NASDAQ:CRIS) is currently working on CA-170 in a Phase 1 trial in patients with advanced solid tumors and lymphomas. Clinical trials so far have shown that the drug possesses anti-tumor effects similar to anti-PD-1 and Anti-VISTA antibodies in multiple tumor models. CUDC-907 is an oral small molecule inhibitor that the company is currently studying in a Phase 2 trial as a novel treatment for patients with relapsed large B-Cell lymphoma.

The drug maker is also undertaking an IND-enabling studies on CA4948 as a small molecule IRAK4 Kinase inhibitor. Erivedge, on the other hand, is a drug developed in collaboration with Genentech that is currently being commercialized as a novel treatment for advanced Basal Cell Carcinoma.

Widening Net Loss Concern

The robust drug pipeline has helped affirm Curis, Inc. (NASDAQ:CRIS)’s long-term prospects given the amount of value the company stands to generate on positive clinical trials. However, the company’s earnings remain a point of concern especially with the filling of a wider than expected first quarter net loss.

For the first three months of the year, the developer of cancer therapies says it posted a net loss of (-$15.7) million compared to a net loss of (-$9.4) million for the same period last year. Revenues soared to $2.1 million from $1.7 million which has helped offset concerns around the company’s earnings going forward. The increase in revenue has been attributed to royalty revenues recorded on the sale of Erivedge.

Curis, Inc. (NASDAQ:CRIS) stock was up by 10.4% in Friday’s trading session, ending the week at $1.91 a share. It is now to be seen if Curis will continue to power higher in the market especially given the increased volatility around the stock.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CRIS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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